Worldwide Cognitive Computing Market: Escalating Investments in Big Data Analytics to Bolster Opportunities, Says TMR

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May 17, 2017, 07:30 ET

ALBANY, New York, May 17, 2017 /PRNewswire/ --

Despite the rising forays of start-ups, competition in the global cognitive computing market will remain low on account of the explosively increasing consumer demand. Also the presence of a less number of established firms has kept the degree of competition under check. Among the players, who have already succeeded leaving their mark in the global cognitive computing market, Cisco Systems, Inc., IBM Corporation, Microsoft Corporation, Google, Inc., and Accenture, Inc., have made the most exemplary contributions, finds Transparency Market Research (TMR) in a new study.

Of these, holding a majority share in the global market IBM Corporation emerged dominant in 2016. The market standing of the leading players are less likely to change in the coming years. However, with major advancements underway, influence of competitive trends is forecast to increase. The development targets of the leading players have enabled the cognitive computing market gain considerable momentum over the last few years.

According to TMR, the global cognitive computing market is likely to exhibit an impressive CAGR of 49.9% between 2017 and 2025. At this pace, the market's valuation will reach a whopping US$1000.52 bn by the end of 2025, from US$29.67 bn in 2016. Large enterprises have emerged as the key end user, occupying the dominant 49.8% of the market in 2016. Regionally, North America is at the global market's fore, however, between 2017 and 2025, the Middle East and Africa cognitive computing market is forecast to exhibit an exponential CAGR of 52.2%, thus exhibiting the fastest growth.

Investment in Big Data Analytics to Attract Growth Opportunities

"The market is majorly gaining traction from the escalating investment in big data analytics," said a lead TMR analyst. The staggering increase in the volume of big data has pumped the demand for effective technologies for managing it. As a major part of data received by companies is in the form of unstructured data such as videos, images, audio files, texts, and others, the implementation of cognitive computing is deemed necessary. "The technology will help companies in collating data for seamless and meaningful inference," added the analyst.

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With the escalating use of cloud-based applications owing to its diverse characteristics such as low cost, lower memory consumption compared to predecessor technologies, high flexibility, and increased reliability, connotes the impending growth for the global cognitive computing market. As enterprises move their critical business systems onto cloud-based platforms, the demand for cognitive computing platforms will rise. With this, the market will witness an accelerated pace of gains in the coming years.

High Upfront Investments Required at Initial Phase Pose Threat to Market

On the downside, the global cognitive computing market is challenged by the low upfront investment around the world. Low funding access and high upfront investment have thus emerged as key challenges, making entry of smaller companies more difficult. Moreover, the long term investment period for cognitive computing innovations has also emerged as a major barrier for the market. In addition, the lack of skilled workforce is creating bottlenecks.

Nevertheless, the rising demand from healthcare sector and other end users will keep the demand for cognitive computing high in the coming years.

Get more information from Research Report Press Release: http://www.transparencymarketresearch.com/pressrelease/cognitive-computing-market.htm

Information offered in this review is derived from a TMR report, titled "Cognitive Computing Market (Deployment Type - On-premise and Cloud; Applications - Diagnostic APIs , Robots, Cyber Security , Farm Mechanization, Social Media Monitoring, Self-driving Cars, Gaming, Video Surveillance, eLearning, IT Infrastructure Management, and Supply Chain Management; Industry Vertical - Healthcare, BFSI, IT & Telecom, Manufacturing, Energy & Utility, Retail, Aerospace & Defense, Government, Transportation, Agriculture, Media & Entertainment, Education, HR, and Marketing & PR) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."

The report segments the global cognitive computing market as:

The Cognitive Computing, By Deployment Type

On-Premise
Cloud

The Cognitive Computing, By Application

Diagnostic APIs
Robots
Cyber Security
Farm Mechanization
Social Media Monitoring
Self-driving cars
Gaming
Video Surveillance
eLearning
IT Infrastructure Management
Supply Chain Management
Others

The Cognitive Computing, By Industry

Healthcare
BFSI
IT & Telecom
Manufacturing
Energy & Utility
Retail
Aerospace & Defense
Government
Transportation
Agriculture
Media & Entertainment
Education
Others (HR, Marketing & PR, etc.)

The Cognitive Computing Analysis, By End User

Large Enterprises
Small & Medium Enterprises (SMEs)
Public sector

The Cognitive Computing Analysis, By Country/Region

- North America

The U.S.
Canada
Rest of North America

- Europe

The U.K.
Germany
France
Rest of Europe

- Asia Pacific

China
Japan
Australia
South Asia
Rest of Asia Pacific

- Middle East & Africa

UAE
South Africa
Saudi Arabia
Rest of Middle East & Africa

- South America

Brazil
Rest of South America

Related Research Reports by TMR:

Mobile Robotics Market: http://www.transparencymarketresearch.com/mobile-robotics-market-2017-2025.html
Collaborative Robot Market: http://www.transparencymarketresearch.com/collaborative-robots-market.html
Cloud Robotics Market : http://www.transparencymarketresearch.com/cloud-robotics-market.html

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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